ASSET PURCHASE AGREEMENT

                                   between

                             PETROL ENERGY, INC.

                                     and

                         EURO TECHNOLOGY OUTFITTERS

                               August 19, 2002

                              TABLE OF CONTENTS

<PAGE>

ARTICLE I Sale and Purchase; Liabilities Assumed                           4
     1.1  Asset Purchase                                                   4
     1.2  Operations Following Asset Purchase                              4
     1.3  Consideration for the Assets                                     4
     1.4  Assumption of Liabilities                                        5
     1.5  Allocation of Consideration                                      6
     1.6  Accounts Receivable                                              6
     1.7  Closing                                                          6
     1.8  Effective Time                                                   6

ARTICLE II Representations and Warranties of Buyer                         6
     2.1  Corporate Organization                                           6
     2.2  Authorization                                                    6
     2.3  Consents and Approvals                                           6
     2.4  No Conflict                                                      6
     2.5  Brokers and Finders                                              7

ARTICLE III Representations and Warranties of Seller                       7
     3.1  Corporate Organization                                           7
     3.2  Authorization                                                    7
     3.3  Consent and Approvals                                            7
     3.4  Subsidiaries                                                     8
     3.5  Capitalization                                                   8
     3.6  Affiliates                                                       8
     3.7  Litigation                                                       8
     3.8  Stock Ownership and Authority                                    8
     3.9  No Conflicts                                                     8
     3.10 Financial Statements                                             9
     3.11 Absence of Certain Changes or Events                             9
     3.12 Taxes                                                            9
     3.13 Title to Assets                                                  9
     3.14 Compliance with Laws; Authorization                              9
     3.15 Employee Benefits Plans                                         10
     3.16 Contracts                                                       10
     3.17 Books of Account; Records                                       10
     3.18 Labor Relations                                                 10
     3.19 Environmental Matters                                           11
     3.20 Brokers and Finders                                             11


ARTICLE IV  Conditions Precedent to Obligations                           11
     4.1  Conditions to Obligations of Buyer                              11
     4.2  Conditions of Seller                                            12

<PAGE>

ARTICLE V Closing                                                         12
     5.1  Deliveries of Seller at Closing                                 12
     5.2  Deliveries of Buyer at Closing                                  13

ARTICLE VI  Indemnification                                               13
     6.1  Survival of Representations, Warranties and Agreements          13
     6.2  Indemnification                                                 13
     6.3  Limitations on Indemnification                                  14
     6.4  Procedure for Indemnification with Respect to Third-Party
          Claims                                                          14
     6.5  Procedure for Indemnification with Respect to
          Non-Third-Party Claims                                          15

ARTICLE VII Covenants                                                     15
     7.1  Covenant Against Hiring                                         15
     7.2  Due Diligence Access                                            15
     7.3  Conduct of Interim Operations                                   16
     7.4  Tax Covenants                                                   17
     7.5  Changes to Disclosure Schedule                                  17
     7.6  Liabilities                                                     17

ARTICLE VIII Termination of Agreement                                     17

ARTICLE IX  Miscellaneous Provisions                                      18
     9.1  No Negotiations by Seller                                       18
     9.2  Notice                                                          18
     9.3  Entire Agreement                                                19
     9.4  Binding Effect; Assignment                                      19
     9.5  No Third-Party Beneficiaries                                    19
     9.6  Counterparts                                                    19
     9.7  Expenses                                                        19
     9.8  Waiver; Consent                                                 19
     9.9  Other and Further Covenants                                     20
     9.10 Governing Law                                                   20
     9.11 Public Announcements                                            20

<PAGE>

                          ASSET PURCHASE AGREEMENT

     This  Asset  Purchase Agreement (this "Agreement") is made  and  entered
into  on  August 19, 2002, between Petrol Energy, Inc., a Nevada  corporation
("Seller"), and Euro Technology Outfitters, a Nevada Corporation ("Buyer").

     WHEREAS,  Seller is an oil and gas exploration and development  company,
and  desires  to  sell  the Assets (as defined herein)  upon  the  terms  and
conditions hereinafter stated;

     WHEREAS,  Buyer  desires  to  purchase the Assets  from  Seller  ("Asset
Purchase") upon the terms and conditions hereinafter stated;

     NOW, THEREFORE, in consideration of the premises and the mutual promises
herein contained, the parties hereto agree as follows:

                                  ARTICLE I
                   Sale and Purchase; Liabilities Assumed

     1.1  Asset Purchase. At the Closing (as defined herein), to be effective
as  of  the  Effective Time (as defined herein), Seller shall  sell,  convey,
assign,  transfer  and  deliver to Buyer, free and clear  of  all  liens  and
encumbrances  of  any kind except those disclosed in the disclosure  schedule
attached  hereto  (the  "Disclosure  Schedule")  those  assets,  rights   and
interests,  tangible  or  intangible, which are listed  by  category  on  the
attached Exhibit A (the "Assets"), and all books and records which relate  to
the  Assets (except for books and records which Seller is required by law  to
retain  in  its  possession,  copies of which will  be  provided  to  Buyer);
provided, however, that there shall be excluded from the Assets those  assets
listed on the attached Exhibit A-1.

     1.2  Operations Following Asset Purchase. The assets of Seller following
the  Effective Time will be combined with the business of Buyer and  will  be
operated under the name Petrol Oil & Gas, Inc.

     1.3  Consideration for the Assets.

          The total consideration for the Assets shall be paid in ten million
          nine hundred eighteen thousand three hundred (10,918,300) shares of
          Rule  144  Restricted  Common Shares of Euro Technology  Outfitters
          (Buyer) stock.

          (a)  The shares issued shall contain the following Legend:

     THE  SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
     UNDER  THE SECURITIES ACT OF 1933 (THE "ACT"). THE SECURITIES HAVE  BEEN
     ACQUIRED  FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED,  ASSIGNED  OR
     OTHERWISE  DISPOSED  OF  IN  THE ABSENCE  OF  A  CURRENT  AND  EFFECTIVE

<PAGE>

     REGISTRATION STATEMENT UNDER THE ACT WITH RESPECT TO SUCH SHARES, OR  AN
     OPINION  SATISFACTORY TO THE ISSUER AND ITS COUNSEL TO THE  EFFECT  THAT
     REGISTRATION IS NOT REQUIRED UNDER THE ACT.

     (b)   At  the  Effective Time, subject in all instances to each  of  the
terms,  conditions, provisions and limitations contained in  this  Agreement,
the  Seller  shall  sell, transfer, convey, and assign to the  Purchaser,  by
instruments  satisfactory  in form and substance to  the  Purchaser  and  its
counsel,  and  the  Purchaser shall acquire from  the  Seller,  the  Acquired
Assets,  subject to no Assumed Liabilities, in exchange for ten million  nine
hundred  eighteen thousand three hundred (10,918,300) shares of common  stock
of Purchaser subject to the legend set forth above.

     1.4  Assumption of Liabilities.

     (a)  In connection with the acquisition by Buyer of the Assets as of the
Effective Time, Buyer shall assume only those liabilities under the  Material
Contracts/Leases (as defined herein) of Seller that are expressly  identified
on the attached Exhibit B. Buyer does not hereby, and will not at any time be
required to, assume, pay, perform or discharge any other obligations, claims,
liabilities, costs or expenses of Seller, including without limitation any of
the following: (i) any liability in respect of separation or severance pay to
any  person  employed  by Seller; (ii) any liability under  any  plan,  fund,
program,  policy  or  arrangement under which any  persons  are  provided  or
promised  pensions,  retirement  income,  deferred  compensation  or  profit-
sharing;  (iii)  any liability under any plan, fund, program  or  arrangement
under  which  any  persons are provided or promised bonuses,  incentive  pay,
severance  pay,  vacations  or  vacation pay,  salary  continuation,  medical
insurance  or  benefits, savings benefits, stock options, life  insurance  or
death  benefits, travel or accident benefits or unemployment  benefits;  (iv)
any  liability  for occupational health and safety or environmental  matters;
(v)  any  liability of Seller (including without limitation any liability  or
potential liability with respect to any consolidated return filed  or  to  be
filed  by  any person) for federal, state or local income or other  taxes  or
penalties  or  interest  thereon; (vi) any pending or  threatened  litigation
against  Seller  or  any  affiliate of Seller; (vii) any  loans  or  accounts
payable,  including but limited to any intercompany loans, advances or  other
obligations  owed by Seller to any affiliate of Seller; and (viii)  liability
of  any  kind,  direct  or  indirect, fixed or contingent,  arising  out  of,
resulting from or relating to actions taken or omitted to be taken by  Seller
prior to, on or after the Closing Date.

     (b)   Notwithstanding anything to the contrary in this Agreement, to the
extent  that  the  assignment hereunder of any Material Contract/Lease  shall
require the consent of any other party (or in the event that any of the  same
shall  be  non-assignable),  neither this  Agreement  nor  any  action  taken
pursuant to its provisions shall constitute an assignment or an agreement  to
assign  if such assignment or attempted assignment would constitute a  breach
thereof or result in the loss or diminution thereof; provided, however,  that
in each such case, Seller shall use its best efforts to obtain the consent of
such  other party to an assignment to Buyer. If such consent is not  obtained
and  is  waived  by Buyer prior to the Closing, Seller shall  cooperate  with
Buyer  in  any  reasonable  arrangement designed to  provide  for  Buyer  the
benefits under any such contract from and after the Effective Time.

<PAGE>

     1.5   Allocation  of  Consideration. The parties agree  on  the  written
allocation  of the Consideration among the Assets attached hereto as  Exhibit
A.  The  parties  agree to file all federal, state and local tax  returns  in
accordance with such allocation.

     1.6   Accounts  Receivable. Seller shall retain its accounts  receivable
and Buyer shall have no obligation to collect them for Seller.

     1.7   Closing. The closing of the transactions contemplated hereby  (the
"Closing") shall take place at 10:00 a.m., local time, on August 21, 2002, at
the officers of Securities Law Institute, at 1850 E. Flamingo Rd., Suite 111,
Las  Vegas,  Nevada,  or on such other date or at such  other  place  as  the
parties may agree. The date and time of the Closing are sometimes referred to
herein as the "Closing Date".

     1.8   Effective  Time. The "Effective Time" shall mean 12:01  a.m.,  Las
Vegas  local time, on the first business day following the Closing Date.  The
parties  agree that (i) between the Closing Date and the Effective  Time  the
business  of Petrol Energy shall be operated for the benefit of  and  at  the
risk  of  Seller and its stockholders (with Seller hereby agreeing to  insure
against and hold Buyer harmless with respect to risk of loss or damage to the
Assets during such time) and (ii) the transfer of the Assets to Buyer and the
assumption of any liabilities hereunder by Buyer shall be effective from  and
after the Effective Time without further action by the parties hereto.

                                 ARTICLE 11
                   Representations and Warranties of Buyer

     Buyer hereby represents and warrants to Seller that:

     2.1   Corporate  Organization.  Buyer is a corporation  duly  organized,
validly  existing and in good standing under the laws of Nevada and  has  all
requisite  power  and  authority to enter into this  Agreement,  perform  its
obligations hereunder and consummate the Asset Purchase.

     2.2   Authorization. All necessary and appropriate corporate action  has
been  taken  by  Buyer  with respect to the execution and  delivery  of  this
Agreement  and  the  performance  of  its  obligations  hereunder,  and  this
Agreement  constitutes a valid and binding obligation  of  Buyer  enforceable
against it in accordance with its terms.

     2.3   Consents  and  Approvals. To the best  of  Buyer's  knowledge,  no
consent, approval, order or authorization of, or registration, declaration or
filing  with, any governmental or regulatory authority or agency is  required
in  connection with the execution and delivery of this Agreement by Buyer  or
its  performance  of the terms hereof or for the validity  or  enforceability
thereof.

     2.4   No  Conflict. Neither the execution and delivery of this Agreement
by  Buyer  nor  the  consummation by Buyer of the  Asset  Purchase  will  (i)
conflict  with  or  result in a breach of any provision of  the  Articles  of
Incorporation or ByLaws of Buyer, (ii) violate, conflict with or result in  a

<PAGE>

breach of any provision of, or constitute a default (or an event which,  with
the  giving  of notice, the passage of time or otherwise, would constitute  a
default) under, or entitle any party (with the giving of notice, the  passage
of  time or otherwise) to terminate, accelerate or cause a default under,  or
result  in the creation of any lien, security interest, charge or encumbrance
upon  any  of  the  properties  or  assets of  Buyer,  under  any  agreement,
indenture,  or instrument, binding on Buyer or its properties or  assets,  or
(iii)  violate any judgment, order, decree, stipulation, injunction or charge
of  any  court,  administrative agency or commission  or  other  governmental
authority or instrumentality by which Buyer is bound.

     2.5  Brokers and Finders. Buyer has not employed any broker or finder or
incurred  any  liability  for brokerage fees in  connection  with  the  Asset
Purchase.

                                 ARTICLE III
                  Representations and Warranties of Seller

     Seller represents and warrants to Buyer that;

     3.1   Corporate  Organization. Seller is a corporation  duly  organized,
validly  existing and in good standing under the laws of the State of Nevada.
Seller has all requisite power and authority and, except as set forth on  the
Disclosure Schedule, all governmental licenses, authorizations, consents  and
approvals  necessary to own, lease and operate its respective properties  and
conduct its respective businesses as presently or as currently proposed to be
conducted. Seller is not qualified to do business as a foreign corporation in
any  jurisdiction, and neither the nature of the business conducted by it nor
the  property  it  owns, leases or operates requires  it  to  qualify  to  do
business  as  a  foreign  corporation in any jurisdiction  except  where  the
failure  to  be  so  qualified would not have a Material  Adverse  Effect  on
Seller.  "Material  Adverse  Effect" as used in this  Agreement  means,  with
respect to any event, act, condition or occurrence, a material adverse effect
upon  any of (i) with respect to Seller, the properties, assets, liabilities,
business,  results  of  operations,  prospects  or  condition  (financial  or
otherwise)  of  Seller, and (ii) with respect to the Seller,  or  Buyer,  the
ability  of  either Seller, or Buyer, as the case may be, to  consummate  the
Asset Purchase or to perform their obligations set forth herein.

     3.2   Authorization.  Seller  has  the  power  and  authority,  and  its
stockholders  have  granted to it the capacity and legal right,  to  execute,
deliver and perform this Agreement and to consummate the Asset Purchase. This
Agreement  has been executed and delivered by the Seller and constitutes  the
valid  and  binding  obligation of it. Seller's  Board  of  Directors  and  a
majority  of  its  stockholders have approved  the  execution,  delivery  and
performance of this Agreement by Seller.

     3.3   Consent  and  Approvals. To the best of  Seller's  knowledge,  and
except  as  set  forth  in  the  disclosure  schedule  attached  hereto  (the
"Disclosure Schedule"), no consent, approval, order or authorization  of,  or
declaration  or  filing  with, any governmental or  regulatory  authority  or

<PAGE>

agency  is  required in connection with the execution and  delivery  of  this
Agreement  by  Seller  or  its performance of the terms  hereof  or  for  the
validity or enforceability thereof as to it and him.

     3.4   Subsidiaries. Seller has no subsidiaries and holds  no  direct  or
indirect  beneficial interest in any corporation, partnership, joint venture,
limited liability company, or other entity or enterprise.

     3.5   Capitalization. The authorized capital stock  of  Seller  consists
solely  of  (1) 100,000,000 shares of common stock, 6,918,300  of  which  are
issued  and outstanding (the "Stock") and (2) 10,000,000 shares of  preferred
stock,  of which there are no issued and outstanding. All outstanding  shares
of  common  stock of Seller are validly authorized, issued,  fully  paid  and
nonassessable. Except as set forth in the Disclosure Schedule, there  are  no
outstanding  subscriptions,  options  (including  employee  stock   options),
warrants,  puts, calls, agreements, understandings, or other  commitments  or
rights of any type to which Seller is a party, or by which any such party  is
bound, relating to the issuance, sale or transfer by Seller of any securities
of  Seller. There are no outstanding securities which are convertible into or
exchangeable  for  any  shares of capital stock  of  Seller.  Seller  has  no
obligation  of any kind to issue any additional securities or to  repurchase,
redeem or otherwise acquire any of the Stock.

     3.6   Affiliates. Seller has not had any direct or indirect interest  in
any  corporation, partnership, limited liability company, or any other entity
which  is  involved in any way with, competes with, or conducts any  business
similar to any business conducted by Seller or Buyer.

     3.7   Litigation. Except as set forth in the Disclosure Schedule,  there
is no claim, litigation, arbitration, action, suit, proceeding, investigation
or  inquiry, administrative or judicial, pending or, to the best knowledge of
Seller, threatened, against Seller or Seller's assets or business, at law  or
in  equity,  before any federal, state or local court, regulatory agency,  or
governmental authority which is reasonably likely to have a Material  Adverse
Effect  on Seller. Except as set forth on the Disclosure Schedule, Seller  is
not a party to or subject to the provisions of any judgment which may have  a
Material Adverse Effect on it.

     3.8   Stock  Ownership;  Authority and  Consent.  The  stockholders  own
beneficially  and of record all the issued and outstanding  common  stock  of
Seller.  A  majority  of  the stockholders have given their  written  consent
authorizing  the  Seller to enter into this Agreement and to  consummate  the
Asset Purchase.

     3.9   No  Conflicts.  Except  as set forth on the  Disclosure  Schedule,
neither  the  execution  and delivery of this Agreement  by  Seller  nor  the
consummation by Seller of the Asset Purchase will (i) conflict with or result
in  a  breach of any provision of the Articles of Incorporation or the Bylaws
of  Seller, (ii) violate, conflict with or result in the breach of any  term,
condition  or provision under any law or regulation applicable to  Seller  or
any  of  Seller's assets, (iii) except for third-party consents to assignment
required  under  the  Material Contracts/Leases, violate,  conflict  with  or
result in a breach of any provision of, or constitute a default (or an  event
which,  with  the  giving of notice, the passage of time or otherwise,  would
constitute a default) under, or entitle any party (with the giving of notice,
the passage of time or otherwise) to terminate, accelerate or cause a default
under,  or  result in the creation of any lien, security interest, charge  or
encumbrance  upon  any  of  the properties or assets  of  Seller  under,  any
agreement,  indenture, or instrument binding on Seller or upon any  of  their
respective properties or assets, or (iv) violate any judgment, order, decree,
stipulation,  injunction  or charge of any court,  administrative  agency  or
commission  or  other governmental or regulatory authority or instrumentality
by which Seller is bound.

<PAGE>

     3.10   Financial   Statements.   The  unaudited   financial   statements
(consisting  solely of an asset and liability list) of Seller for  August  1,
2002  heretofore  delivered to Buyer, are accurate in all material  respects,
and have been furnished to Buyer (the "Financial Statements").

     3.11  Absence of Certain Changes or Events. Except as set forth  on  the
Disclosure  Schedule, since date of the Financial Statements, there  has  not
been  any event or change relating to the business of Seller that has had  or
would  be  reasonably likely to have a Material Adverse Effect on  Seller  or
Seller's Financial Statements.

     3.12 Taxes.

          (a)   For  purposes of this Agreement, (i) "Tax" or  "Taxes"  shall
mean  all  Federal, state, local and foreign taxes and assessments, including
all  interest, penalties and additions imposed with respect to such  amounts;
(ii)  "Pre-Effective Tax Period" shall mean all taxable periods ending before
or  including the Effective Time; and (iii) "Returns" means returns,  reports
or forms, including information returns.

          (b)   (i) Seller has filed or caused to be filed in a timely manner
(within  any  applicable extension periods) all Tax Returns  required  to  be
filed  by  such party by the Internal Revenue Code of 1986, as amended,  (the
"Code")  or  by  applicable State, local or foreign Tax law,  and  each  such
Return  is  complete and accurate, (ii) all Taxes of Seller shown as  due  on
such Returns have been duly and timely paid or accrued and (iii) no Tax liens
have  been  filed and no claims are being asserted in a writing  received  by
Seller with respect to any Taxes.

     3.13  Title  to Assets. Except as set forth on the Disclosure  Schedule,
Seller  has  marketable  title  to all furniture,  fixtures,  equipment,  and
machinery  (the  "Fixed Assets") and good title to all other Assets,  in  all
cases  free  and  clear of all liens, charges, security  interests  or  other
encumbrances of any nature whatsoever. Except as set forth in the  Disclosure
Schedule,  all  of  the Fixed Assets are usable in the regular  and  ordinary
course of business.

     3.14  Compliance  with  Laws; Authorization. To  the  best  of  Seller's
knowledge,  except  as  set forth on the Disclosure schedule,  Seller  is  in
compliance  in  all  material  respects with all applicable  laws,  statutes,
orders, rules, regulations, policies or guidelines promulgated, or judgments,
decisions  or  orders entered, by any federal or state court or  governmental
authority applicable to Seller, its business or its properties (collectively,
the  "Applicable  Laws"). To the best of Seller's knowledge,  except  as  set
forth  on  the  Disclosure Schedule, Seller is not under  investigation  with
respect to, nor has it been charged with or given notice of any violation of,
any  of  the Applicable Laws. For purposes hereof, Seller will be  deemed  in
compliance  in  all  material respects with Applicable Laws  if  a  violation
thereof  would not have a Material Adverse Effect on the continued operations
of Seller in the manner in which it is currently conducting its business.

     3.15  Employee  Benefits Plans. Except as set forth  in  the  Disclosure
Schedule:

<PAGE>

          (a)   Seller  has  never  directly  or  indirectly  maintained   or
contributed  to,  nor  is  Seller  directly  or  indirectly  maintaining   or
contributing,  for  the  benefit of the current and/or  former  employees  of
Seller,  any  employee  benefit  plan,  including,  without  limitation,  any
"employee benefit plan" (as defined in Section (3) of the Employee Retirement
Income  Security  Act  of  1974,  as amended  ("ERISA"),  any  employment  or
severance   contract,  any  stock  option  plan  or  any  plan  of   deferred
compensation (individually, a "Plan" and collectively the "Plans")  .  Seller
does  not have any commitment, whether formal or informal, to create any such
plans.

          (b)   Seller does not directly or indirectly maintain or contribute
to  (or have an obligation to contribute to) any plan, fund or program  which
provides   medical,  health,  hospitalization,  life,  disability  or   other
insurance,  vacation, deferred compensation, pension, bonus,  stock  options,
stock purchase rights, or other employee benefits with respect to present  or
former employees of Seller, other than the full time employees of Seller.

          (c)   The  consummation of the Asset Purchase will not entitle  any
current   or  former  employee  of  Seller  to  severance  pay,  unemployment
compensation or any other payment.

     3.16  Contracts.  Seller has made or will make available  to  Buyer  all
contracts, agreements, and instruments to which Seller is a party,  including
all  amendments and supplements thereto, which are material to  the  business
operations,  assets,  properties or condition  (financial  or  otherwise)  of
Seller  (the  "Material Contracts"). Except as set forth  on  the  Disclosure
Schedule, each Material Contract is legally valid and binding against Seller,
in  full  force and effect and enforceable against Seller in accordance  with
its terms, except where the invalidity or non-binding nature would not have a
Material Adverse Effect on Seller.

     3.17  Books  of  Account;  Records. To the best of  Seller's  knowledge,
Seller's  general  ledgers,  stock  record  books,  minute  books  and  other
corporate records relating to the assets, contracts and leases of Seller are,
in all material respects, true, correct and complete.

     3.18 Labor Relations.

          (a)  There is no collective bargaining agreement to which Seller is
a  party,  collective  bargaining agreement  currently  being  negotiated  by
Seller,  or union or collective bargaining unit representing any of  Seller's
employees.

          (b)   Seller  has  complied  in  all  material  respects  with  all
applicable laws, rules and regulations relating to the employment of labor or
the   termination   thereof,  including  those  related  to   wages,   salary
withholdings,  employee health and safety, bonus, vacation pay and  severance
pay, working hours, and benefits for employees and former employees, and  the
payment  and  withholding of taxes and other sums as required by  appropriate
governmental  authorities, or is holding for payment  not  yet  due  to  such
authorities  all  amounts  required to be withheld from  such  employees  and
former  employees  of  Seller  and is not liable  to  any  person  or  entity
(including any governmental entity) for any arrears of wages, commissions and
benefits for employees, taxes, penalties or other sums for failure to  comply
with any of the foregoing, other than amounts not yet due and payable in  the
ordinary course or business.

<PAGE>

          (c)   Except as set forth in the Disclosure Schedule, Seller is not
a  party to any employment contract or agreement with respect to any  of  its
employees, nor has Seller in any other manner limited its right to  terminate
the employment relationship with its employees.

     3.19 Environmental Matters. To the best of Seller's knowledge, Seller is
and has been in compliance in the conduct of its business with all applicable
environmental  laws  and  regulations or  any  order,  decree,  judgment,  or
injunction issued, entered, promulgated or approved thereunder.

     3.20  Brokers and Finders. Seller has not employed any broker or  finder
or incurred any liability for brokerage fees, commissions or finders' fees in
connection with the Asset Purchase.

                                 ARTICLE IV
                     Conditions Precedent to Obligations

     4.1   Conditions to Obligations of Buyer. Each and every  obligation  of
Buyer  to  be  performed  under  this  Agreement  shall  be  subject  to  the
satisfaction  by  Seller  at or prior to the Closing  Date  of  each  of  the
following conditions (unless waived in writing by Buyer);

          (a)    Representations  and  Warranties.  The  representations  and
warranties  set forth in Article III of this Agreement shall have  been  true
and  correct in all material respects when made and shall be true and correct
in  all  material  respects  at and as of the Closing  Date  as  though  such
representations and warranties were made as of the Closing Date.

          (b)   Performance  of Agreement. Seller shall have fully  performed
and  complied with the covenants, conditions and other obligations under this
Agreement which are to be performed or complied with by them at or  prior  to
the Closing Date.

          (c)   Consents. All applicable third-party approvals  or  consents,
including consents and approvals under Material Contracts/Leases, shall  have
been received or satisfied.

          (d)   No  Adverse  Change. There shall not have been  any  Material
Adverse Effect with respect to Seller or its business since the date of  this
Agreement.

          (e)   No  Adverse  Proceeding.  There  shall  not  be  pending   or
threatened   any  claim,  action,  litigation  or  proceeding  (judicial   or
administrative) or governmental investigation against Buyer or Seller for the
purpose  of  enjoining or preventing the consummation of this  Agreement,  or
otherwise  claiming  that  this Agreement or the consummation  of  the  Asset
Purchase is illegal.

          (f)   Certificate.  Seller shall have delivered  to  Buyer  at  the
Closing a certificate signed on its behalf by one of its officers, dated  the
date  of  Closing, to the effect that the conditions set forth in subsections
(a) through (e) of this Section 4.1 have been satisfied to the best knowledge
of such officer.

<PAGE>

            (g)  General Conveyance, Transfer, Assignment, and Bill  of  Sale
Agreement.  At  the Closing, Buyer and Seller shall execute and  deliver  the
General Conveyance, Transfer, Assignment, and Bill of Sale Agreement  in  the
form  attached  hereto  as  Exhibit C (the "  General  Conveyance,  Transfer,
Assignment and Bill of Sale Agreement").

     4.2   Conditions of Seller. Each and every obligation of  Seller  to  be
performed under this Agreement shall be subject to the satisfaction by  Buyer
at or prior to the Closing Date of the following conditions (unless waived in
writing by Seller):

          (a)    Representations  and  Warranties.  The  representations  and
warranties of Buyer set forth in Article II of this Agreement shall have been
true  and correct when made, and shall be true and correct at and as  of  the
Closing  Date as though such representations and warranties were made  as  of
the Closing Date.

          (b)  Performance of Agreement. Buyer shall have fully performed and
complied  with  the  covenants, conditions and other obligations  under  this
Agreement which are to be performed or complied with by it at or prior to the
Closing Date.

          (c)   Consents.  All applicable third-party approvals  or  consents
shall have been received or satisfied.

          (d)   No  Adverse  Proceedings.  There  shall  not  be  pending  or
threatened   any  claim,  action,  litigation  or  proceeding  (judicial   or
administrative) or governmental investigation against Buyer,  or  Seller  for
the  purpose  of  enjoining  or  preventing the  consummation  of  the  Asset
Purchase,  or  otherwise claiming that this Agreement or the consummation  of
the Asset Purchase is illegal.

          (e)   Certificate.  Buyer shall have delivered  to  Seller  at  the
Closing a certificate signed on its behalf by one of its officers, dated  the
date  of  the  Closing Date, to the effect that the conditions set  forth  in
subsections  (a) through (d) of this Section 4.2 have been satisfied  to  the
best knowledge of such officer.

          (f)  Purchase Price. Buyer shall have paid the Consideration at the
Closing in accordance with Section 1.3 hereof.

          (g)   No  Adverse  Change. There shall not have been  any  Material
Adverse  Effect with respect to Buyer or its business since the date of  this
Agreement.

                                  ARTICLE V
                                   Closing

     5.1   Deliveries  of  Seller  at Closing. At the  Closing,  Seller  will
deliver or cause to be delivered to Buyer the following at Seller's expense:

          (a)   The  certificate  referred  to  in  Section  4.1(f)  of  this
Agreement.

<PAGE>

          (b)   A  copy  of the Articles of Incorporation of Seller  and  all
amendments thereto certified by the Secretary of State of Nevada.

          (c)   Certified  copies of minutes reflecting the authorization  by
the  Board of Directors of Seller and by the majority of its stockholders  of
the execution, delivery and performance of this Agreement and consummation of
the Asset Purchase.

          (d)  The General Conveyance, Transfer, Assignment, and Bill of Sale
Agreement.

     5.2   Deliveries of Buyer at Closing. At the Closing, Buyer will deliver
or cause to be delivered to Seller the following;

          (a)   Certificate  of Euro Technology Outfitters  representing  ten
million  nine hundred eighteen thousand three hundred (10,918,300) shares  of
common  stock  which  represents the Price as set forth in  Section  1.3  (a)
hereof;

          (b)   The  certificate  referred  to  in  Section  4.2(e)  of  this
Agreement;

          (c)   Certified  copies  of resolutions adopted  by  the  Board  of
Directors  of  Buyer authorizing the execution, delivery and  performance  of
this Agreement and consummation of the Asset Purchase.

                                 ARTICLE VI
                               Indemnification

     6.1  Survival of Representations, Warranties and Agreements. Subject  to
the   limitations   set  forth  in  Section  6.3  of  this   Agreement,   all
representations,  warranties and covenants of the  parties  contained  herein
shall survive execution and delivery of this Agreement.

     6.2  Indemnification.

          (a)   Subject to the limitations set forth in Section 6.3  of  this
Agreement, Seller hereby covenants and agrees to indemnify and hold  harmless
Buyer,  from  and against any and all losses, liabilities, damages,  demands,
claims, suits, actions, judgments or causes of action, assessments, costs and
expenses,  including,  without  limitation, interest,  penalties,  attorney's
fees,  any and all expenses incurred in investigating, preparing or defending
against any litigation, commenced or threatened, or any claim whatsoever, and
any   and  all  amounts  paid  in  settlement  of  any  claim  or  litigation
(collectively,  "Damages"), asserted against, resulting  to,  imposed  on  or
incurred  or  suffered by Buyer directly or indirectly, as  a  result  of  or
arising  from  (i)  any breach of any of the representations,  warranties  or
covenants  made  by  Seller, (ii) any liability of  Seller  not  specifically
assumed  by  Buyer hereunder, (iii) any Federal income Taxes attributable  to
Seller, any state, local or foreign income or franchise Taxes attributable to
Seller,  or any sales, use or similar Taxes for any Pre-Effective Tax Period,
and  (iv)  Seller's  operation of the business prior to  the  Effective  Time
(collectively, "Buyer's Indemnifiable Claims").

<PAGE>

          (b)   Buyer  hereby  covenants and agrees  to  indemnify  and  hold
harmless  Seller,  from  and  against any and all Damages  asserted  against,
resulting  to,  imposed  on or incurred or suffered by  Seller,  directly  or
indirectly,  as  a result of or arising from (i) any breach  of  any  of  the
representations,  warranties or covenants made by Buyer  in  this  Agreement,
(ii)  any liability specifically assumed by Buyer hereunder and (iii) Buyer's
operation  of the business after the Effective Time (collectively,  "Seller's
Indemnifiable Claims").

          (c)  Buyer's Indemnifiable Claims and Seller's Indemnifiable Claims
are collectively referred to hereinafter as "Indemnifiable Claims."

     6.3  Limitations on Indemnification. Rights to Indemnification hereunder
are subject to the following limitations:

          (a)   The  obligation of indemnity provided herein with respect  to
the  representations and warranties set forth in Section 3.12 shall terminate
on  the expiration of the periods of limitations applicable to assessment and
collection  of federal, state, local and foreign taxes, taking  into  account
any extensions of such periods of limitations approved by Seller prior to the
date hereof.

          (b)   The obligations of indemnity provided herein with respect  to
the  representations and warranties set forth in Articles II and III  (except
Section 3.12 of this Agreement) shall terminate on the second anniversary  of
the Closing Date.

          (c)   The foregoing provisions of this Section notwithstanding, if,
prior  to  the  termination of any obligation to indemnify  as  provided  for
herein,  written notice of a claimed breach is given by Buyer, Seller,  or  a
suit or action based upon a claimed breach is commenced against any party, no
party shall be precluded from pursuing such claimed breach or suit or action,
or from recovering from the other party hereunder (whether through the courts
or  otherwise)  on  the claim, suit or action, by reason of  the  termination
otherwise provided for above.

     6.4  Procedure for Indemnification with Respect to Third-Party Claims.

          (a)    If   a   party   (the  "Indemnitee")  determines   to   seek
indemnification  under  this  Article with respect  to  Indemnifiable  Claims
resulting  from the assertion of liability by third parties,  it  shall  give
notice  to the other party (the "Indemnifying Party") within 30 days  of  the
Indemnitee's becoming aware of any such Indemnifiable Claim; the notice shall
set  forth  such  information  with respect thereto  as  is  then  reasonably
available  to the Indemnitee. In case any such liability is asserted  against
the  Indemnitee, and the Indemnitee notifies the Indemnifying Party  thereof,
the  Indemnifying Party will be entitled, if it so elects by  written  notice
delivered  to  the Indemnitee within 30 days after receiving the Indemnitee's
notice, to assume the defense thereof with counsel reasonably satisfactory to
the   Indemnitee  at  all  times  during  the  defense  of  such   liability.
Notwithstanding the foregoing, (i) the Indemnitee shall also have  the  right
to employ its own counsel in any such case, but the fees and expenses of such

<PAGE>

counsel  shall  be  at  the  expense  of  the  Indemnitee  (so  long  as  the
Indemnifying  Party  continues to defend such matter);  (ii)  the  Indemnitee
shall  not  have  any  obligation to give any  notice  of  any  assertion  of
liability by a third party unless such assertion is in writing; and (iii) the
rights  of  the  Indemnitee  to  be  indemnified  hereunder  in  respect   of
Indemnifiable Claims shall be deemed forfeited by its failure to give  notice
pursuant  to the foregoing only to the extent that the Indemnifying Party  is
materially  prejudiced by such failure to give notice. With  respect  to  any
assertion  of  liability by a third party that results  in  an  Indemnifiable
Claim,  the parties hereto shall make reasonably available to each other  all
relevant information in their possession material to any such assertion.  The
Indemnifying  Party  may  not  compromise or settle  an  Indemnifiable  Claim
without the written consent of the Indemnitee.

          (b)  In the event that the Indemnifying Party, within 30 days after
receipt  of the aforesaid notice of an Indemnifiable Claim, fails  to  assume
the  defense of the Indemnitee against such Indemnified Claim, the Indemnitee
shall  have  the right to undertake the defense and to compromise  or  settle
such  action  on  behalf of and for the account and risk of the  Indemnifying
Party.

     6.5   Procedure  for  Indemnification with  Respect  to  Non-Third-Party
Claims.  If  the  Indemnitee asserts the existence of an Indemnifiable  Claim
giving rise to Damages (but excluding claims resulting from the assertion  of
liability by third parties), it shall give written notice to the Indemnifying
Party  specifying  the  nature  and amount of  the  claim  asserted.  If  the
Indemnifying  Party,  within  30 days after the  mailing  of  notice  by  the
Indemnitee,  shall not give written notice to the Indemnitee  announcing  its
intent  to  contest such assertion of the Indemnitee, such assertion  by  the
Indemnitee shall be deemed accepted and agreed to by the Indemnifying Party.

                                 ARTICLE VII
                                  Covenants

     7.1  Covenant Against Hiring. Seller understands that in Buyer's view it
is  essential  to the successful operation of its business that Buyer  retain
substantially  unimpaired  Seller's current  operating  organization.  Seller
covenants  and agrees that neither of them, nor any affiliate  of  either  of
them, without the prior written consent of Buyer, shall take any action which
would  induce any employee or representative of Seller prior to the Effective
Time not to become or continue as an employee or representative of Buyer.

     7.2   Due  Diligence Access. From the date of this Agreement  until  the
Closing, to enable Buyer to conduct due diligence, and following the  Closing
to  the extent needed by Buyer and its accountants to conduct and complete  a
financial audit of Seller and its operations, Seller shall make or  cause  to
be  made available to Buyer: (i) members of management of Seller for personal
interviews;  (ii)  the  Assets; and (iii) all books  of  account,  contracts,
agreements,  commitments,  authorizations, insurance  policies,  records  and
documents  of  every character relating to Seller's business for examination.
Accordingly,  Seller  shall permit Buyer and its representatives,  attorneys,
accountants and agents to have access to the same at all reasonable times and
places.

     7.3   Conduct of Interim Operations. From the date hereof to the Closing
Date:

<PAGE>

     (a)  Affirmative Covenants. Seller shall do the following:

          (1)  Operations. Conduct its business as presently conducted in the
usual,  regular,  and ordinary course and scope, and do  all  things  in  the
ordinary  course  of  business, consistent with past practice,  necessary  to
preserve,  renew, and keep in full force and effect all rights and franchises
that are necessary to continue its business.

          (2)   Corporate  Existence. Maintain its corporate existence,  good
standing, and qualification to transact business in the State of Nevada.

          (3)  Compliance with Applicable Laws. Substantially comply with all
Applicable  Laws  and timely pay all amounts that, if unpaid,  would  have  a
Material Adverse Effect on the Seller's business affairs or prospects.

          (4)  Insurance. Maintain all insurance.

          (5)  Litigation. Advise Buyer immediately of any lawsuit threatened
or filed against Seller.

          (6)   Material Loss. Immediately notify Buyer of any event  causing
or  that  may reasonably be expected to cause a material loss to Seller  with
respect to the Assets or result in a material decline in value of the  Assets
or the Seller's business or prospects.

          (7)   Preservation  of Business. Employ all reasonable  efforts  to
preserve the Seller's business intact, to keep available to Buyer the present
employees  of  the Seller, and to maintain good relations with suppliers  and
customers and others having business relations with the Seller.

     (b)  Negative Covenants. Seller shall not do any of the following:

          (1)   New  Encumbrances. Create, incur, assume, or suffer to  exist
any  new  encumbrance  (including, but not limited to,  charges  on  property
purchased under conditional sales or other title retention agreements) on any
of  the  Assets other than in the ordinary course and scope of  the  Seller's
business.

          (2)   Disposition  of Assets. Sell, dispose of,  mortgage,  pledge,
grant a security interest in or otherwise dispose of or encumber any Asset or
interests therein other than in the ordinary course and scope of the Seller's
business.

          (3)   Contracts. Enter into any contracts or agreements, or  amend,
modify,  or  terminate any contracts or agreements, except  in  the  ordinary
course and scope of the Seller's business;

          (4)   Compensation. Except for wage increases required  by  law  or
governmental regulations, and merit or length of service increases granted in
the  ordinary course and scope of the Seller's business consistent with  past

<PAGE>

practices, increase the compensation or benefits payable or to become payable
to any employee.

     7.4  Tax Covenants.

     (a)   Seller and Buyer shall reasonably cooperate, and shall cause their
respective   affiliates,   officers,   employees,   agents,   auditors    and
representatives reasonably to cooperate, in preparing and filing all  Returns
relating  to Taxes, including maintaining and making available to each  other
all  records necessary in connection with Taxes and in resolving all disputes
and audits with respect to all taxable periods relating to Taxes.

     (b)  All transfer, documentary stamp, sales, use, registration and other
such  Taxes and related fees (including any penalties, interest and additions
to  Tax)  incurred  in  connection with this Agreement and  the  transactions
contemplated  hereby shall be paid by Seller; and Buyer  shall  cooperate  in
timely making all filings as may be required to comply with the provisions of
such Tax laws.

     (c)   Any personal property or similar taxes with respect to the  Assets
attributable to the Pre-Effective Tax Period shall be borne by Seller.

     7.5   Changes to Disclosure Schedule. Between the date of this Agreement
and  the  Closing  Date,  Seller  shall  promptly  inform  Buyer  of  events,
circumstances, or other developments that occur between such dates that would
have been described in the Disclosure Schedule had such events, circumstances
or  other  developments occurred on or prior to the date of  this  Agreement.
Having  so  informed  Buyer, Seller shall provide  Buyer  with  such  further
information  regarding  such  event, circumstance  or  development  as  Buyer
reasonably  requests. Within three business days of Buyer's receipt  of  such
additional information, Buyer shall notify Seller and shareholders that:  (i)
Seller may amend the Disclosure Schedule to describe such event, circumstance
or  other development, without liability to Seller; or (ii) Buyer intends  to
terminate this Agreement pursuant Section 8.1(b).

     7.6  Liabilities. Seller shall pay all of its liabilities as they become
due,  whether  due  prior  to,  on or after the Effective  Time  (other  than
liabilities expressly assumed hereunder by Buyer).

                                ARTICLE VIII
                          Termination of Agreement

     This Agreement may be terminated at any time prior to the Closing:

     (a)  by mutual written consent of all parties;

     (b)   by  either  Buyer  or  Seller if any  of  the  representations  or
warranties of the other party contained herein shall be inaccurate or  untrue
in  an material respect and such inaccuracy cannot reasonably be expected  to
be cured prior to the Closing;

<PAGE>

     (c)   by either Buyer or Seller if any obligation, term or condition  to
be  performed, kept or observed by such other party hereunder  has  not  been
performed, kept or observed in any material respect at or prior to  the  time
specified in this Agreement;

     (d)   by  either  Buyer or Seller if any permanent injunction  or  other
order of a court or other competent authority preventing the consummation  of
the  transactions contemplated by this Agreement shall have become final  and
nonappealable;

     (e)  by either Buyer or Seller if not then in material breach of any  of
its  obligations hereunder, if the Closing has not occurred by  December  31,
2002.

     Any  termination  pursuant to this Section 8.1 shall be  effective  upon
notice  thereof having been given to the non-terminating party in  accordance
with Section 9.2 hereof.

     No  party  hereto  shall be liable to any other  party  hereto  if  this
Agreement is terminated pursuant to Section 8.1(a), (b) or (d).

                                 ARTICLE IX
                          Miscellaneous Provisions

     9.1  No Negotiations by Seller. Unless and until this Agreement has been
properly  terminated  pursuant  to Article  VIII  hereof,  Seller  shall  not
directly  or  indirectly,  through any officer,  director,  agent,  employee,
representative  or  otherwise,  make,  solicit,  initiate  or  encourage  the
submission  of  proposals  or  offers, or  accept  offers,  from  any  person
(including   any   of   its   officers  or   employees)   relating   to   any
recapitalization,   merger,  consolidation  or  other  business   combination
involving  Seller, any sale of all or a substantial portion of the assets  of
Seller,  or  the sale of any material equity interest in Seller (any  of  the
foregoing, a "Competing Transaction"). During such period, Seller shall  not,
directly or indirectly, participate in any negotiations regarding, furnish to
any  other  person  any information with respect to, or otherwise  cooperate,
assist or participate in, any effort or attempt by any third party to propose
or  effect  any  Competing  Transaction. Seller shall  notify  Buyer  of  any
Competing  Transaction  or  any  inquiry relating  to  a  possible  Competing
Transaction and shall deliver to Buyer any information furnished to or by any
such third party.

     9.2   Notice.  All  notices, requests, demands and other  communications
required or permitted under this Agreement shall be deemed to have been  duly
given  and  made if in writing and served either by personal delivery  (which
shall  include delivery by Federal Express or similar services) to the  party
for  whom it is intended or by being deposited postage prepaid, certified  or
registered  mail, return receipt requested (or such form of mail  as  may  be
substituted  therefore  by postal authorities), in the  United  States  mail,
bearing the address shown in this Agreement for, or such other address as may
be designated in writing hereafter by, such party:

     If to Buyer:                   With a copy to:

     Euro Technology Outfitters              Donald J. Stoecklein, Esq.
     1850 E. Flamingo Road, Suite 111        Stoecklein Law Group

<PAGE>

     Las Vegas, Nevada 89119                 402 West Broadway, Suite 400
     Attn: Anthony DeMint                    San Diego, California 92101

     If to Seller:                 With a copy to:

     Petrol Energy, Inc.
     Paul Branagan, President
     6265 S. Stevenson Way
     Las Vegas, NV  89120

     9.3   Entire Agreement. This Agreement, the Exhibits, the Appendices and
the  Disclosure Schedule embody the entire agreement and understanding of the
parties  hereto with respect to the subject matter hereof, and supersede  all
prior agreements and understandings relative to said subject matter.

     9.4   Binding Effect; Assignment. This Agreement and the various  rights
and  obligations  arising hereunder shall inure to  the  benefit  of  and  be
binding  upon Buyer, its representatives, successors and assigns, and Seller,
its  representatives, successors and assigns. Neither this Agreement nor  any
of  the  rights,  interests or obligations hereunder shall be transferred  or
assigned  (by operation of law or otherwise) by any party hereto without  the
prior  written consent of the other parties, except that Seller shall  assign
its  rights  hereunder,  including all rights to the Share  Portion  and  the
Option Portion, to its stockholders upon dissolution of Seller.

     9.5  No Third-Party Beneficiaries. Nothing herein, expressed or implied,
is intended or shall be construed to confer upon or give to any person, firm,
corporation  or  legal  entity, other than the parties  hereto,  any  rights,
remedies or other benefits under or by reason of this Agreement.

     9.6   Counterparts.  This  Agreement may be executed  simultaneously  in
multiple counterparts, each of which shall be deemed an original, but all  of
which taken together shall constitute one and the same instrument.

     9.7   Expenses. Each of the parties hereto will bear its own  costs  and
expenses  (including  legal,  accounting and consulting  fees  and  expenses)
incurred in connection with this Agreement and the Asset Purchase.

     9.8   Waiver;  Consent.  This Agreement may  not  be  changed,  amended,
terminated,  rescinded  or  discharged (other than  in  accordance  with  its
terms),  in  whole or in part, except by a writing executed  by  the  parties
hereto,  and  no  waiver  of  any of the provisions  or  conditions  of  this
Agreement  or  any  of  the rights of a party hereto shall  be  effective  or
binding  unless  such  waiver shall be in writing and  signed  by  the  party
claimed to have given or consented thereto.

     9.9   Other  and  Further Covenants. The parties shall, in  good  faith,
execute such other and further instruments, assignments or documents  as  may

<PAGE>

be  necessary for the consummation of the transactions contemplated  by  this
Agreement, and shall assist and cooperate with each other in connection  with
these activities.

     9.10 Governing Law. This Agreement shall in all respects be construed in
accordance  with  and governed by the laws of the State  of  Nevada,  without
regard to any, such laws relating to choice or conflict of laws.

     9.11  Public Announcements. Neither Buyer nor Seller shall, without  the
prior  written  consent  of the other, make any public  announcement  or  any
release  to trade publications or to the press or make any statement  to  any
competitor,  customer  or  any  other  third  party  with  respect   to   the
transactions  contemplated  herein,  except  such  announcement,  release  or
statement  necessary in the opinion of its counsel to comply with  applicable
requirements  of  law. The parties hereto agree that upon execution  of  this
Agreement and on the Closing Date, they shall jointly prepare press  releases
for appropriate dissemination, if any.


     IN  WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the date first set forth above.


                                   PETROL ENERGY, INC.


                                   By:/s/ Paul Branagan
                                          Paul Branagan, President



                                   EURO TECHNOLOGY OUTFITTERS


                                   By:/s/ Anthony DeMint
                                         Anthony N. DeMint, President


<PAGE>

                                                                    EXHIBIT A


                                 ASSET LIST


ASSETS:

        Cash                               $12,000.00
        Leases                             448,049.00

             Total                         460,049.00

<PAGE>

                                                                  EXHIBIT A-1


                               EXCLUDED ASSETS



Excluded Assets are to be considered any assets that do not directly relate
to the mineral leases and cash as described in Exhibit "A" hereto..

<PAGE>

                                                                    EXHIBIT B



                                 LIABILITIES

                   MATERIAL CONTRACTS/LEASES TO BE ASSUMED


Leases                             $449,049.00

<PAGE>

                                                                    EXHIBIT C


     GENERAL CONVEYANCE, TRANSFER, ASSIGNMENT AND BILL OF SALE AGREEMENT

<PAGE>

          GENERAL CONVEYANCE, TRANSFER, ASSIGNMENT AND BILL OF SALE


     THIS  GENERAL  CONVEYANCE, TRANSFER, ASSIGNMENT AND BILL OF  SALE  (this
"Assignment") effective as of August 19, 2002, is between Petrol Energy Inc.,
a  Nevada  corporation  ("Seller") and Euro Technology Outfitters,  a  Nevada
corporation ("Buyer").

                                 WITNESSETH:

     WHEREAS,  Seller  is in the business (the "Business")  of  oil  and  gas
exploration and development;

     WHEREAS,  Seller and Buyer have entered into an Asset Purchase Agreement
dated as of August 19, 2002 ("the Purchase Agreement") providing, among other
things,  for  the  sale by Seller and purchase by Buyer  of  the  Assets  (as
defined herein); and

     WHEREAS,  in order to effectuate the sale and purchase of the Assets  as
aforesaid,  Seller is executing and delivering this Assignment and  Buyer  is
delivering consideration as set forth herein.

      NOW,  THEREFORE, in consideration of the premises, the mutual covenants
and agreements contained herein and in the Purchase Agreement, and other good
and  valuable consideration, the receipt and sufficiency of which are  hereby
acknowledged, Seller hereby acts and agrees as follows:

1.    Conveyance of Assets. Subject to Paragraphs 2 and 3 hereof, the  Seller
hereby  SELLS,  CONVEYS, TRANSFERS, ASSIGNS AND DELIVERS unto Buyer  and  its
successors  and  assigns,  forever, all the assets,  rights,  and  properties
described  in  the  following  clauses (a)  through  (e)  (collectively,  the
"Assets").

(a)  License and Permits. All right, title and interest of Seller in, to  and
     under all licenses, permits, authorizations and other rights of every kind
     and character relating to the Business under any federal, state or local
     statute, ordinance or regulation.

(b)  Intangible  Assets. All right, title and interest of Seller  in,  to  an
     under all trademarks, technology, know-how, data, copyrights, trade-names,
     service marks, licenses, covenants by others not to compete, rights  and
     privileges used in the Business and the goodwill associated with the
     Business in connection with which the marks are used.

(c)  Contracts and Leases. All right, title and interest of Seller in, to and
     under  all  contracts, leases and agreements to which it is a  party  or
     beneficiary (the "Material Contracts/Leases"), all of which are set forth
     in Exhibit A attached to the Purchase Agreement.

(d)  Name. The name of "Petrol" and any variations thereupon.

<PAGE>

(e)  Prepaid  Expenses, Cash. All prepaid expenses and deposits  relating  to
     the Assets, all cash of Seller.

2.   Excluded Assets. Notwithstanding the foregoing, Seller may retain on and
from the Closing Date, the assets used in, relating to or associated with the
Business listed on Exhibit A-1 to the Purchase Agreement.

3.   Consideration.  As consideration for the Assets, Buyer herewith delivers
to   Seller,  Ten  Million  Nine  Hundred  Eighteen  Thousand  Three  Hundred
(10,918,300) Shares of common stock of Euro Technology Outfitters.

4.    Assumption  of Buyer.  Buyer assumes only those liabilities  associated
with  the  Material Contracts/Leases set forth on Exhibit B to  the  Purchase
Agreement.

5.    Defined  Terms.   All capitalized terms used herein without  definition
shall have the meanings assigned to them in the Purchase Agreement.

6.    Counterparts.  This  Assignment  may  be  executed  in  any  number  of
counterparts, and each counterpart hereof shall be deemed to be  an  original
instrument, but all such counterparts shall constitute but one assignment.

7.    Further Assurances. From time to time, as and when requested by  Buyer,
Seller shall execute and deliver or cause to be executed and delivered,  such
documents and instruments and shall take, or cause to be taken, such  further
or  other actions as may be reasonably necessary to carry out the purposes of
this Agreement.

8.    Controlling Agreement.  It is contemplated that Seller may, at any time
or  from  time to time, execute acknowledge and deliver one or more  separate
instruments  of assignment and conveyance relating to certain of the  Assets.
No such separate instrument of assignment or conveyance shall limit the scope
and  effect of this Assignment.  In the event that any conflict or  ambiguity
exists  as  between  this  Assignment and any  such  separate  instrument  of
assignment,  the terms and provisions of this Agreement shall govern  and  be
controlling.

9.    Governing Law. The validity of this Assignment shall be governed by and
construed  in accordance with the laws of the State of Nevada, excluding  any
conflicts-of-law rule or principle which might refer to another jurisdiction.

10.   Successors  and  Assigns. This Assignment shall  bind  Seller  and  its
successors  and assigns and inure to the benefit of Buyer and its  successors
and assigns.

11.    Descriptive  Headings.   The  descriptive  headings  of  the   several
Paragraphs,  subparagraphs and clauses of this Assignment were  inserted  for
convenience  only  and  shall  not  be  deemed  to  affect  the  meaning   or
construction of any of the provisions hereof.

<PAGE>

     EXECUTED  as of the date first set forth above.



                              Seller:

                              Petrol Energy Inc.


                              /s/ Paul Branagan
                              Paul Branagan, President


                              Buyer:

                              Euro Technology Outfitters


                              /s/ Anthony DeMint
                              Anthony N. DeMint, President